Elbit Systems Ltd. (NASDAQ:ESLT) Cut to Buy at BidaskClub
BidaskClub cut shares of Elbit Systems Ltd. (NASDAQ:ESLT) from a strong-buy rating to a buy rating in a research note published on Friday morning.
Separately, Chardan Capital began coverage on Elbit Systems in a report on Friday, May 5th. They set a neutral rating and a $110.00 target price on the stock.
Elbit Systems (ESLT) traded up 0.38% on Friday, hitting $126.10. The stock had a trading volume of 4,899 shares. Elbit Systems has a 12 month low of $91.20 and a 12 month high of $127.97. The stock has a market cap of $5.39 billion, a P/E ratio of 23.41 and a beta of 0.62. The company’s 50 day moving average is $124.79 and its 200-day moving average is $118.80.
Elbit Systems (NASDAQ:ESLT) last posted its earnings results on Tuesday, May 16th. The aerospace company reported $1.21 EPS for the quarter. The firm had revenue of $749.19 million for the quarter. Elbit Systems had a return on equity of 16.45% and a net margin of 7.00%. Analysts forecast that Elbit Systems will post $6.20 EPS for the current year.
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A number of hedge funds have recently bought and sold shares of ESLT. Swiss National Bank raised its stake in Elbit Systems by 2.5% in the first quarter. Swiss National Bank now owns 140,874 shares of the aerospace company’s stock valued at $16,073,000 after buying an additional 3,409 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Elbit Systems by 79.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,864 shares of the aerospace company’s stock valued at $213,000 after buying an additional 827 shares during the period. Bank of New York Mellon Corp raised its stake in Elbit Systems by 15.5% in the first quarter. Bank of New York Mellon Corp now owns 55,154 shares of the aerospace company’s stock valued at $6,268,000 after buying an additional 7,417 shares during the period. US Bancorp DE raised its stake in Elbit Systems by 45.2% in the first quarter. US Bancorp DE now owns 1,835 shares of the aerospace company’s stock valued at $208,000 after buying an additional 571 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in Elbit Systems by 12.8% in the first quarter. Advisors Asset Management Inc. now owns 27,224 shares of the aerospace company’s stock valued at $3,094,000 after buying an additional 3,097 shares during the period. 10.84% of the stock is currently owned by hedge funds and other institutional investors.
Elbit Systems Company Profile
Elbit Systems Ltd. is an international technology company engaged in a range of programs across the world. The Company develops and supplies a portfolio of airborne, land and naval systems and products for defense, homeland security and commercial aviation applications. Its systems and products are installed on new platforms, and it also performs platform modernization programs.
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